Lee's Pharmaceutical Holdings Limited "the Company" (GEM Stock: 8221: Website: www.leespharm.com ) today announced that the Company signed an exclusive license agreement with Novelos Therapeutics, Inc. , a biopharmaceutical company focused on the development of therapeutics to treat cancer and hepatitis, to develop and commercialize in China, including Hong Kong and Macau, as well as in Taiwan, two of Novelos' compounds: NOV-002 for cancer and NOV-205 for hepatitis. NOV-002 is Novelos' lead compound in pivotal Phase 3 trial for non-small cell lung cancer under a Special Protocol Assessment (SPA) and Fast Track.